House Passes Part Of President Obama’s Jobs Bill

Source: Stephanie Condon / CBS News

The House on Thursday passed a measure to repeal an IRS withholding tax, the first measure from President Obama’s $447 billion jobs package that Republicans have agreed to back.

The measure repeals a requirement for the government to withhold 3 percent of the payments it makes to contractors (in case the contractors were over-charging for their services). It represents a small portion of Mr. Obama’s large legislative plan to get the economy back on track, and the Senate is expected to pass the bill next week.

Both the White House and Republicans said they were happy to see some common ground reached — and then promptly went back to pointing fingers for the lack of progress on other jobs-related measures.

“We owe it to the American people to find common ground,” House Speaker John Boehner said today. “Repealing this tax is another step in that effort in finding common ground.”

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